Vimeo VP of Product on Building a platform beneath consumer-facing products | Justin Kim
E245 | #TheProductPodcast
"The best products are ones that are really, really, really good at some very specific things."
In this edition of #TheProductPodcast newsletter, we delve into the world of platform product management with Justin Kim, Vice President of Product at Vimeo. With extensive experience at both Vimeo and Amazon, Justin shares valuable insights on building scalable platforms, managing enterprise products, and navigating the complexities of replatforming.
There are many incredible lessons to learn from Justin. Here are a few of the top ones:
Evolving from Consumer to Enterprise Focus
"Vimeo has had quite a journey over the past 20 years. So Vimeo started off as what I like to call the hipster's version of YouTube. And around 2018, Vimeo pivoted to more of a business-oriented video platform, a true SaaS product."
Justin explains how Vimeo transformed from a consumer-focused video discovery platform to an enterprise video solution. This pivot involved shifting focus to business use cases such as internal communications, training, and marketing. The evolution demonstrates Vimeo's ability to adapt to changing market needs and capitalize on the growing demand for professional video solutions in the business world.
Balancing Platform and Feature Development
"The way I view it is it's the same product, same solution, the features that you have available or the consumables like in videos case, the number of videos or in the case of, you know, let's say I think slack, I think the price on a per seat model, I'm not sure."
Justin discusses the challenges of managing both platform and feature development. He emphasizes the importance of viewing enterprise and self-service tiers as part of the same product, with differences primarily in scale and advanced features. This approach allows for a more cohesive product strategy while catering to diverse customer needs.
The Power of Integrations
"We look at now we're looking at more usage of those integrations, the number of users that are connecting with integrations, the number of users who are uploading videos through those integrations, and then also sending them out in publishing external or outside of Vimeo."
Justin highlights the critical role of integrations in Vimeo's platform strategy. He explains how integrations not only drive user acquisition but also significantly improve retention. By focusing on key metrics like integration usage and its impact on customer retention, Vimeo can prioritize the most valuable partnerships and create a more robust ecosystem.
Navigating Replatforming Challenges
"We're going through right now on the payments space. It's significant and it's painful. So I can talk about that."
Justin shares insights on the complexities of replatforming, using Vimeo's ongoing payments system overhaul as an example. He discusses the importance of a phased approach, starting with smaller segments and gradually expanding. This strategy allows for careful monitoring of key metrics and minimizes risks associated with large-scale changes.
Building a Comprehensive Video Platform
"What's next for Vimeo or what's in the future is at some point it's I would like Vimeo to you know, I think the dream is for Vimeo to be the default answer."
Justin outlines Vimeo's vision to become the go-to platform for all video needs, from creation and management to distribution. He acknowledges the challenge of balancing depth in specific features with breadth of offerings, emphasizing the need to excel in core areas while providing a comprehensive solution.
🔑 Key takeaways:
Adapt your product strategy to evolving market needs, even if it means pivoting from your original focus.
View enterprise and self-service offerings as part of the same product ecosystem, with differences in scale and advanced features.
Leverage integrations not just for user acquisition, but also for improving retention and creating a robust platform ecosystem.
Approach replatforming with caution, using a phased rollout strategy to minimize risks and monitor key metrics.
Balance depth in core features with breadth of offerings when building a comprehensive platform.
🎧 Check out the full episode here 🎧
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Credits:
Justin Kim
Carlos Gonzalez de Villaumbrosia
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